Victor Luis, CEO of Coach's parent company Tapestry, told Women's Wear Daily (via StyleCaster) in 2013 that future Coach bags would eventually retail between $2,000 and $5,000, effectively taking the "accessible" out of "accessible luxury." That same year, the Coach + Billy Reid Crocodile Tote was unveiled for — you may want to sit down — $20,000, according to Money Inc. Gulp.

Although that price hike may have worried fans and caused them to think Coach would eventually become completely out of reach, there were still very few über-expensive Coach bags by 2016. As Money Inc. noted, the brand's second-most expensive bag — the Tea Rose Applique Rogue Bag — retailed for $1,500 that year. Now, that wasn't necessarily "cheap," but it wasn't anywhere near $20,000 and it was still far less expensive than Luis promised.

As of this writing, the most expensive bag offered on Coach's official site is the $7,000 Rogue in Alligator. That doesn't mean you have to pay thousands or even hundreds for a Coach bag, though. The brand's bestsellers are upwards of $400, yes, but bags like the Kitt Messenger Crossbody in Signature Jacquard retail for $140 as of July 2019.